International Media Group eyes 60-day extension of plan-filing period

By Lisa Kerner

Charlotte, N.C., May 8 - International Media Group, Inc. asked the court to extend its exclusive periods in which to file a plan of reorganization and solicit votes on a plan by about 60 days, according to a May 8 filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its plan-filing period to July 9 from May 8 and the solicitation period to Sept. 5 from July 7.

According to the filing, the debtors are seeking the extension out of "an abundance of caution" as they contemplate ways to conclude the Chapter 11 case.

A hearing is set for May 31.

International Media Group, based in Los Angeles, is an AsianMedia subsidiary that owns and operates multilingual television stations. The company filed its Chapter 11 case on Jan. 9 with the U.S. Bankruptcy Court for the District of Delaware. The case number is 12-10140.

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